| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 21st | Poor |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 442 S Flower St, Santa Ana, CA, 92703, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | 1996-06-26 |
| Transaction Price | $450,000 |
| Buyer | WHPX S REAL ESTATE LTD PARTNERSHIP |
| Seller | FLOWER STREET LTD |
442 S Flower St Santa Ana Multifamily Investment
This 20-unit property benefits from strong neighborhood-level occupancy at 97.7% and renter concentration of 58.9%, indicating stable tenant demand in Santa Ana's urban core market according to WDSuite's CRE market data.
This Santa Ana neighborhood ranks in the top quartile nationally for amenity access, with strong grocery store density (3.79 per square mile) and restaurant availability (9.48 per square mile) among 516 metro neighborhoods. The area maintains neighborhood-level occupancy at 97.7%, above the 87th national percentile, while renter-occupied units comprise 58.9% of housing stock, supporting consistent multifamily demand.
Demographics within a 3-mile radius show 283,772 residents with median household income of $87,144, representing 45% growth over five years. The area's 55.7% renter concentration reinforces rental housing reliance, while projected household growth of 42% through 2028 suggests expanding tenant pools. Median home values at $630,000 limit ownership accessibility, sustaining rental demand dynamics.
The property's 1984 construction year aligns with older neighborhood building stock (1944 average), presenting potential value-add opportunities through strategic renovations. Median neighborhood rents at $1,655 have increased 29% over five years, while the area's rent-to-income ratio of 0.18 indicates manageable affordability for tenants. The urban core designation provides transit connectivity and employment access supporting tenant retention.
The neighborhood ranks 341st of 516 metro neighborhoods for overall crime metrics, placing it near the middle of Santa Ana area neighborhoods. Property crime rates show improvement with a 29% decrease over the past year, indicating positive trending. Violent crime rates have also declined 16% year-over-year, suggesting ongoing stabilization efforts in the area.
While crime metrics rank below metro averages, the declining trends and urban core location provide context for ongoing neighborhood development and investment. Investors should consider security measures and tenant screening as standard due diligence practices in this market segment.
The property benefits from proximity to major corporate employers including technology, financial services, and manufacturing operations that support workforce housing demand in the Santa Ana market.
- Xerox — technology services (2.1 miles)
- First American Financial — title insurance and financial services (2.9 miles) — HQ
- Microsoft Technology Center — technology offices (4.9 miles)
- Western Digital — data storage technology (5.3 miles) — HQ
- Pacific Life — insurance services (8.4 miles) — HQ
This 20-unit Santa Ana property offers exposure to a stabilized urban core market with neighborhood-level occupancy at 97.7% and strong renter concentration at 58.9%. The 1984 vintage presents value-add potential through strategic improvements, while proximity to major employers including First American Financial headquarters and technology centers supports tenant demand. Demographics within a 3-mile radius show household growth projections of 42% through 2028, expanding the potential tenant base.
High home values at $630,000 median sustain rental demand by limiting ownership accessibility, while the area's rent-to-income ratio of 0.18 indicates manageable tenant affordability. According to CRE market data from WDSuite, the neighborhood's top quartile national ranking for amenity access and strong grocery and restaurant density support tenant retention and lease-up velocity.
- Neighborhood occupancy at 97.7% indicates strong rental demand stability
- 58.9% renter concentration supports consistent multifamily tenant base
- Proximity to major employers including First American Financial HQ (2.9 miles)
- Value-add potential through 1984 vintage property improvements
- Risk consideration: Crime metrics rank below metro averages requiring standard security measures